And so the financial year comes to an end, and what a financial year it has been.
This time last year, we saw the first of many interest rate cuts. And since then, it appears that the market has been on the way up.
Corona has been for many a shocker, for some a blessing, and for all, all once in a lifetime! So for me what that means – the panic in the marketplace that these events have caused would lead me to believe that the best opportunity to purchase property in our lifetime is well and truly upon us! Add the fact that more people are working from home, this really brings regional properties and outer metro areas on to the pedestal.
The Victorian property market has been resilient to say the least! The federal government has come up with the Home Builder Scheme, allowing new home builders or renovators who spend over $150,000 an additional $25,000 grant from the federal government.
Interest rates are at all time lows, so if you’re borrowing to buy a property, lending has never been so cheap!
Again, interest rates are at all time lows, so if you’ve got your money sitting in the bank, its earning you less than 2% in most cases. Where a property historically returns more than 2% on average (capital growth and rental).
If you want to know more about interest rates, when's a good time to buy, selling your property or just a general enquiry, please contact us via one of our social media platforms today!
Happy house hunting!